Phoenix Employment Update | May 2014

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May Phoenix Employment UpdatePhoenix employment growth has slowed slightly to 2.2 percent over the last 12 months. The Valley added 39,900 new jobs new jobs over the last year.

The top four sectors include Trade, Transportation & Utilities, Education & Health Services, Professional & Business Services, and Financial Activities. These four employment sectors make up the core of office employment which is good news for the office commercial real estate market. Manufacturing and Government recorded another 12-month loss of about 1,300 jobs.

Phoenix’s unemployment rate rose from 6.1 percent to 6.4 percent, but remains lower than the Arizona rate (7.3 percent) and the national rate (6.7 percent).

Visit our Phoenix Research Group page for additional market insight: Phoenix – Research

Click to tweet: #JLL: #Phoenix job growth is driven by office using employment. See more in JLL’s #EmploymentUpdate

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